This should be a successful project, the building type means they will probably have rents lower than 400H, but above Alexan Moto. The immediate area has some amazing retail and you have lots of nearby employment (Bloc83, 301 Hillsborough, 400H, etc). As I stated on another post, there is a basic recipe of success here: Employment, Play, and now Living. There is easily 3,000 jobs within 10 minutes walk - they only capture 5% of that and they are 70% leased .
Weaver Street Market is 600’ (basically the distance from back of Costco parking to store entrance). You can dine at dozens of restaurant, scooter up to Glenwood for nightlife or the nearby hotel bars, and stroll through Boylan Heights. Really the only thing missing is some green space.
The best thing I can say about this building and its design is that I appreciate the varied and inviting street-level pedestrian experience it will bring, unlike many of the 5-over-1s that have flat, mostly enclosed retail entrances - or no retail whatsoever.
Unless I am looking in the wrong place (wrong project / address), I think they have a long way to go with permitting, approvals, etc. before anything real happens.
Looks like they do have a demo permit (and a few other small ones) that were issued last October and expire in April. the most recent one – issued in Feb of this year – is “Temporary Street, Lane, and Sidewalk Closures and Dumpster or POD placement”
Sounds like that lines up with them closing the nearby streets and having no parking as they do demo and take down the trees. Especially with the April expiration, I expect to see a lot of action here over the next 4-6 weeks. Exciting!
